CanWest Global Communications Corp. has been granted a two-week reprieve, as major creditors have agreed to keep talking with the debt-burdened corporation.
And they'll provide more credit while talking about "certain borrowing conditions for its media unit." Reuters reports:
Analysts have said it is possible Canwest, with its debt load of about C$3.7 billion, may file for bankruptcy protection as the weak economy wreaks havoc on advertising revenues at its television stations and newspapers.
Still unclear is who might be willing to buy CanWest's TV stations or newspapers in such an economy, or what price CanWest might have to settle for.
In a news release on April 1, CanWest reported that its Australian TV subsidiary, Ten Holdings, saw considerable losses in the first six months of fiscal 2009.
Crawford Kilian is a contributing editor of The Tyee.
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circle A
3 years ago
not enough hands!
not enough hands to hold my nose and turn the pages of the rags (sun/province)that has the gall to pretend to be journalism,let alone our (paper of record)more than ten years since i`ve actually purchased one.
Skywalker
3 years ago
I wonder
When they go under which will be because the public, recognizing the biased reporting, will have cause the public to stop buying their papers, will we then revisit all those myths they created about politics in BC and politicians that have played a role. Or will we go on and on believing their propaganda and thereby prove that they have been successful even with their collapse.
Just like Circle A I have not bought a paper for more than a decade. I seem to recall that I felt the same way after the BC Report magazine went under. It was probably for the same reason.
frances
3 years ago
Bail out
Is the federal government positioning itself to provide a bailout for the Aspers? Stay tuned
Van Isle
3 years ago
It seems only fair that the
It seems only fair that the Conservatives bail out Can-west; Can-west has been bailing out the Conservatives for years.